Consumer preferences for automobile energy-efficiency grades
Recently, increases in energy prices have made energy conservation and efficiency improvements even more essential than in the past. However, consumers experience difficulty in obtaining reliable information regarding energy efficiency, so that many countries have implemented regulations to enforce energy-efficiency grade labeling. In this study, consumer preferences regarding energy efficiency grades are analyzed by the mixed logit and MDCEV model based on the revealed preference data of past automobile purchases. Findings show that consumers rationally apply information on energy efficiency grades when purchasing automobiles. However, they tend to show inefficiency in automobile usage patterns. This study discusses political implications of energy efficiency policies as they might impact consumer behaviors of automobile purchase and usage.
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- Brownstone, David & Bunch, David S & Train, Kenneth, 1999.
"Joint mixed logit models of stated and revealed preferences for alternative-fuel vehicles,"
University of California Transportation Center, Working Papers
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- Brownston, David & Bunch, David S. & Train, Kenneth, 1999. "Joint mixed logit models of stated and revealed preferences for alternative-fuel vehicles," University of California Transportation Center, Working Papers qt7rf7s3nx, University of California Transportation Center.
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- Ahn, Jiwoon & Jeong, Gicheol & Kim, Yeonbae, 2008. "A forecast of household ownership and use of alternative fuel vehicles: A multiple discrete-continuous choice approach," Energy Economics, Elsevier, vol. 30(5), pages 2091-2104, September.
- David Revelt & Kenneth Train, 1998. "Mixed Logit With Repeated Choices: Households' Choices Of Appliance Efficiency Level," The Review of Economics and Statistics, MIT Press, vol. 80(4), pages 647-657, November.
- Bhat, Chandra R., 2008. "The multiple discrete-continuous extreme value (MDCEV) model: Role of utility function parameters, identification considerations, and model extensions," Transportation Research Part B: Methodological, Elsevier, vol. 42(3), pages 274-303, March.
- Daniel McFadden & Kenneth Train, 2000. "Mixed MNL models for discrete response," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(5), pages 447-470.
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- Bhat, Chandra R., 2005. "A multiple discrete-continuous extreme value model: formulation and application to discretionary time-use decisions," Transportation Research Part B: Methodological, Elsevier, vol. 39(8), pages 679-707, September.
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